Are you moving into a rental property? Most likely, the last thing on your mind right now is rental insurance. However, this is something that should be considered to protect yourself and your valuables, plus against anything you may be legally liable for. As a renter, you are not covered by your landlord’s insurance as most people think. Occurrences such as theft, fire and lightning, roof and plumbing leaks, smoke, electrical surge damage and vandalism can cause damage to your personal property. That is why we suggest renters obtain rental insurance to protect their valuables.
Renters don’t think they have enough personal property to make a renters insurance policy worthwhile. Think about what you own and estimate the value of your belongings, including clothing, furniture, television, entertainment system, computer, ipod and jewelry. Then think again about what you’ve got to lose.
Without renters insurance, you have no coverage for personal property loss or damage. Fortunately, you can get affordable renters insurance (also called apartment insurance) to help you in situations like these.
Prices can range from $120 up depending upon the total amount of content coverage.
Also by combining the renters insurance with your auto policy, you can get a discount on both of them. Sometimes depending on the cost of your auto policy, the combination savings will pay for the renters insurance. In that case its a no-brainer.